Here's an exchange that very well may have happened (condensed for brevity and designed for shareholders "who are not informed about such matters"):
Hayes: Hello, J&J? This is Michael Hayes of EPGL.
J&J: Who?
Hayes: Michael Hayes, CEO of EPGL - you know, the Pink Sheet Company.
J&J: Whatever. What can we do for you, Mr. Hayes?
Hayes: Well, we have some patent applications out there, but we lost our development partner.
J&J: So what do you want, Mr. Hayes?
Hayes: If I agree to give you first right of negotiation on all our technology, would you allow us to use the J&J name in our press release? I'm really desperate, because I promised my shareholders that I would find a replacement for CooperVision.
J&J: Sure, go ahead. Just sign this waiver that says we are not obligated to you in any way, and then you may say that we have a "first right of negotiation" agreement.
Hayes: Gee thanks, J&J!!!
